Placer Dome CEO Jay Taylor announces retirement VANCOUVER, March 21 /PRNewswire-FirstCall/ -- Jay K. Taylor, President and Chief Executive Officer, today announced his retirement. Mr. Taylor advised the Board of Directors of Placer Dome Inc. of his intention to retire on September 30, completing five years at the helm of the company. Thereafter, he will remain with the company in an advisory role through March 2005. Robert Franklin, Chairman of the Board of Directors, said the Board accepted Mr. Taylor's decision with regret and that over the next six months the Board will, with Mr. Taylor's help, manage a smooth transition. "The Board will consider both internal and external candidates. The process will be orderly, thorough, and will have the benefit of Jay's input." Mr. Franklin went on to say that Mr. Taylor was named President of the company in September 1999, and took on the added responsibility of CEO in February 2000. "He was appointed because of his exemplary record as a mine operator, problem solver and strategic thinker. In over 32 years with Placer Dome, Jay has personified the high operational and ethical standards that we have always held as important features of our corporate culture. Under his leadership we made significant acquisitions and enjoyed impressive exploration success while improving the focus on our core, low-cost operations and advancing our promising development properties." Mr. Taylor will leave the company with a strong balance sheet, a portfolio of substantial growth projects, solid assets and an experienced management team. "In my tenure as CEO, we focused our strategy on establishing large land positions in major gold belts, increasing reserves by exploration, disciplined acquisitions, and operating excellence," Mr. Taylor said. "Underlying this has been an unrelenting focus on safety and sustainable development. The results have been extraordinary. In 2003 our shareholders enjoyed the highest net earnings from mining activities in the company's history, significantly increased mineral reserves, and record gold production. Placer Dome has a strong foundation for an exciting future." Mr. Taylor noted the company has gone through substantial change in his five years and now has 18 mines on five continents. "I have accomplished the objectives I set for myself and this company when I became CEO and believe now is the appropriate time to turn over the company to a new leader. My successor must, and will be able to lead a global company with mines indiverse cultural, environmental and operational settings. I will do everything I can to ensure the new CEO's success." For further information contact: Investor Relations: Greg Martin (604) 661-3795 Media Relations: Theresa Coles (604) 661-1911 On the Internet: http://www.placerdome.com/ CAUTIONARY NOTE Some of the statements contained in this news release are forward-looking statements, such as estimates and statements that describe Placer Dome's future plans, expectations, objectivesor goals, including words to the effect that Placer Dome or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "intends", "expects", "estimates", "may", "could", "would", "will" or "plan". Such forward-looking statements are made pursuant to the safe harbour provisions of the United States Private Securities Litigation Reform Act of 1995. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, mineral reserves, resources, results of exploration, reclamation and other post-closure costs, capital costs, mine production costs, and Placer Dome's financial condition and prospects, could differ materially from those currently anticipated in such statements by reason of factors such as the productivity of Placer Dome's mining properties, changes in general economic conditions and conditions in the financial markets, changes in demand and prices for the minerals Placer Dome produces, litigation, environmental, legislative and other judicial, regulatory, political and competitive developments in domestic and foreign areas in which Placer Dome operates, technological and operational difficulties encountered in connection with Placer Dome's mining activities, labour relations matters, costs and changing foreign exchange rates and other matters discussed under "Management's Discussion and Analysis" or detailed in Placer Dome's filings with securities regulatory authorities. This list is not exhaustive of the factors that may affect any of Placer Dome's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Placer Dome's forward-looking statements. Further information regarding these and other factors which may cause results to differ materially from those projected in forward-looking statements are included in the filings by Placer Dome with the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities. "Placer Dome" is used in this news release to collectively mean Placer Dome Inc., its subsidiary companies and its proportionate share of joint ventures. "Placer Dome Group" or "Group" means collectively Placer Dome Inc., its subsidiary companies, its proportionate share of joint ventures and also companies for which it equity accounts. "Placer Dome Group's share" or the "Group's share" is defined to exclude minority shareholders' interest. "The company" refers to Placer Dome Inc. Placer Dome does not undertake to update any forward-looking statement that may be made from time to time by Placer Dome or on its behalf, except in accordance with applicable securities laws. DATASOURCE: Placer Dome Inc. CONTACT: Investor Relations: Greg Martin, (604) 661-3795; Media Relations: Theresa Coles, (604) 661-1911; On the Internet: http://www.placerdome.com/

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